For Shahrizat's family, NFC is a cash cow

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YOURSAY 'I am just amazed at the amount of expose that has gone on, but still the government is not doing anything about it.'

'All in the NFC family' rental deal exposed

your say Changeagent: With RM250 million cash at their disposal, I wonder why the National Feedlot Corporation (NFC) was so willing to pay dead-rent on its office and operating premises when it actually made better business sense to purchase the properties outright.

It is almost as if they were hell-bent on purchasing only the non-core assets like luxury condominiums, prime residential land and uncompleted commercial properties, but not too keen on core assets like office and shop spaces for the business.

This is really bizarre business decision-making that defies any common sense at all.

Kairos: Call it by any name or try to rationalise it by any excuse, the bottom line is that every decision made by the NFC management is geared towards the benefit of the Shahrizat Abdul Jalil family.

If this does not strongly imply hanky-panky, I don't know what does. It is intentional use of their positions as managing director and directors for personal gain. This is unacceptable and goes against the norm of corporate practice.

Rubystar_4037: LHDN (Income Tax Department) has to check whether the father, sons, daughter and mother - who apparently has nothing to do with the company - declared their income tax on rental proceeds from their own private properties being leased to Meatworks or NFC.

But then again as per Ah Jib Gor's (brother Najib Razak's) instruction, only PKR can bring out dirt of the family - all other government institutions will keep their heads down and not want to investigate.

Yes, really pity the sons. So young and their father, a Cornell University PhD graduate, teaches them how to cheat, rob and tell blatant lies with no remorse.

May God take pity on them, but anyway it will be the father who will be behind bars, if at all.

Jaded: I am just amazed at the amount of expose that has gone on, but still the government is not doing anything about it.

It's almost as if they think it will just die down on its own. Seriously in this time and age, are they not deluding themselves?

This also shows how rotten to the core the government, police and judiciary are. A total revamp is needed and the sooner the better, before the whole country goes down the path of no return.

Goliath: They will argue, "If someone is willing to rent the shop space from me at a monthly rental of RM28,000, what's wrong? It's a free market."

I bet you, at the end of the day, they will still be freed. This is just one case of how government's (people) money is being ‘stolen' by these greedy ministers.

If this can happened to one minister, are you saying that it not happening to other ministers as well?

YF: Procedural steps for ‘Skim Cepat Kaya Umno':

Step 1: Use ‘wang rakyat' to buy premises and put under your name.

Step 2: Use ‘wang rakyat' to rent from your newly-bought premises and rent paid as personal income to you.

Step 3: Repeat the process until ‘wang rakyat lesap'.

Step 4: If ‘wang rakyat tak cukup', ask for a fresh loan from the government.

Conclusion - you don't need to be an Umno dentist to be rich. Cows will do.

Rent-for-profit claim is wrong, NFC tells PKR

No Racism: Why would a company pay twice the rental value for its office? Isn't it a conflict of interest to rent your property to a company that you are a director?

Anonymous #02382443: I do not have the opportunity to look at the objective of the grant and soft loan given by the government.

Was it to ensure that it becomes a successful business venture for the Shahrizat family? Or was it for the purpose of ensuring that we have sufficiency of beef supply at the most affordable price for the rakyat.

If the latter is true, what was NFC director Wan Shahinur Izran Salleh talking about, promoting your product to ensure acceptance in the market and to ensure that your family business will be a great success?

Please be focused on the objective for which the grant and soft were given, and nothing else.

Blind Freddo: I wonder what the auditor-general would have to say about this young man's business ethics.

NFC office rental 'more than market rate'

Opah: How to borrow RM250 million without ever paying it back:

1) Borrow it from the government.

2) Pay the directors totally ridiculous salaries.

3) Pay twice the market rate to rent office and shop space.

4) Buy condominiums in Singapore and Almaty.

5) Fatten up and slaughter a few cows.

6) When the money runs out, go back to the government and say, "Sorry, we tried but Malaysia is not suitable for farming cattle."

Maplesyrup: This family has very good business acumen and know how to leverage on the government grant.

Use the grant money to buy the properties in their own names, then get NFC to rent the properties back from them at inflated rate. It looks like the rakyat got screwed twice.

 


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